Foxconn to invest $1.5 billion to expand operations in India
The company, which announced the investment plan in a stock exchange filing, did not provide any further details. Foxconn has been rapidly expanding its presence in India by investing in manufacturing facilities in the south of the country.
Taiwan's Foxconn will invest $1.5 billion in India in its latest expansion plan, the world's largest contract manufacturer of electronics said on Monday.
The company, which announced the investment plan in a stock exchange filing, did not provide any further details. Foxconn has been rapidly expanding its presence in India by investing in manufacturing facilities in the south of the country.
The contract manufacturer aims to double its workforce and investment in India by next year, a company executive had said in September.
The company's Chairman Liu Young-way had also said in an earnings briefing in August he sees a lot of potential in India, adding that "several billion dollars in investment is only a beginning".
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
01:43 PM IST